A Washington Township man has been accused of stealing $100,000 that had been loaned to him as an investment, authorities said Wednesday.

Dennis McDine, 51, was charged with one second-degree count of theft by deception, Bergen County Prosecutor John L. Molinelli said in a statement.

The suspect owns Lisu & Associates, an insurance brokerage firm in Bogota, a woman who answered the phone for the company said. He was issued a summons Wednesday and released on his own recognizance, Molinelli said.

McDine could not be reached for comment and did not respond to a message left at his office.

Molinelli said that another man loaned McDine $100,000 last year as an investment, and that the suspect used it to pay for personal expenses. The suspect allegedly agreed to loan the money to local grocery stores, and to repay the full amount of the original loan plus interest to the victim after one year, on Jan. 19.

The victim asked for the money on that date, Molinelli said, but did not receive payment.

McDine told the victim that he owned a Newark food company, and used his stake in the company to secure the $100,000 investment. However, McDine does not have an ownership stake in the company, Molinelli said.

The suspect will have a first appearance in Bergen County Central Municipal Court on Friday, Molinelli said.